Common use of Lessor to insure Clause in Contracts

Lessor to insure. Subject to the provisions of this Lease the Lessor covenants with the Lessee to insure and keep insured the Lease Premises against risks as the Lessor may from time to time in her absolute discretion think fit to insure PROVIDED THAT the parties agree that the Lessor will not be responsible for the insurance of the Lessee’s assets, any building erected on the Premises by the Lessee, goods, working equipment and any other effects belonging to the Lessee and the Lessor may furnish copies of the relevant cover or policy of insurance to the Lessee or any person claiming under him upon demand in writing. Lessee’s insurance covenants The Lessee covenants with the Lessor:- to comply with all the reasonable requirements and recommendations of the Lessor ’s insurers; not to do or omit anything that could cause any policy of insurance on or in relation to the Property to become void and voidable wholly or in part nor (unless the Lessee shall have previously notified the Lessor and have agreed to pay the increased premium) anything by which additional premiums may become payable; to pay directly or reimburse the Lessor on demand and fully indemnify the Lessor in respect of any additional premiums payable under any policy of insurance covering the Premises arising from a dangerous nature of any goods stored on the Premises by the Lessee and to comply with the requirements and recommendations of any fire authority and the requirements of the Lessor in connection with fire precautions relating to the Premises; not to obstruct the access to any fire equipment or the means of escape from the Premises and the Property and not to lock any fire door while the Premises or any part of the Premises is occupied; to give notice to the Lessor immediately upon the happening of any event which might affect any insurance policy on or relating to the Land or upon the happening of any event against which the Lessor may have insured under this Lease; immediately to inform the Lessor in writing of any conviction judgement or finding of any court or tribunal relating to the Lessee (or any director other officer or major shareholder of the Lessee) of such a nature as to be likely to affect the decision of any insurer or underwriter to grant or to continue such insurance; if at any time the Lessee shall be entitled to the benefit of any insurance on the Premises (which is not effected or maintained in pursuance of any obligation contained in this Lease) to apply all money received by virtue of such insurance in making good the loss or damage in respect of which such money shall have been received; if and whenever during the Term the Lease Premises or any part of it is damaged or destroyed by an Insured Risk and the insurance money payable under the policy of insurance effected by the Lessor pursuant to its obligations contained in this Lease is by reason of any act or default of the Lessee or anyone at the Premises expressly or by implication with the Lessee’s control wholly or partially irrecoverable immediately in every such case (at the option of the Lessor) either:- to rebuild and reinstate at his own expense that part of the Premises destroyed or damaged to the reasonable satisfaction and under the supervision of the Lessor the Lessee being allowed towards the expenses of so doing upon such rebuilding and reinstatement being completed the amount (if any) actually received in respect of such destruction or damage under any such insurance policy; or to pay to the Lessor on demand the amount of such insurance money so irrecoverable.